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Stakeholder engagement and material topics

We select and prioritise sustainability topics by assessing how our business activities impact stakeholders, and how sustainability risks and opportunities impact Equinor.

Continuous dialogue with our stakeholders is part of how we conduct our business in an open and responsible way. Our values–open, collaborative, caring and courageous–guide our approach and we are inspired by the UN sustainable development goals.

Employees
We engage broadly with employees to capture views from different parts of the business, across geographies. In all countries where we are present we involve our employees and/or their appropriate representatives according to local laws and practices. This varies from formal bodies with employee representatives to team meetings. Through townhalls and digital channels including social media, we have an ongoing dialogue with our employees to capture ideas, expectations and concerns. Employees are also represented at board level.

Shareholders and the financial community
Through our capital market updates, roadshows and socially responsible investor day we reach out to ensure that all relevant information is available. To further improve transparency and efficiency, we make all sustainability related data available in our data hub. We listen to and collaborate with the financial community to implement best practices and meet concerns and expectations. This includes reporting in line with the disclosure framework developed by the Task Force on Climate-related financial disclosures.

Government and local communities
Collaboration and close dialogue with governments and local communities are essential to safe and responsible operations. We work with governments on a range of topics such as labour standards, human rights, anti-corruption and climate and environment. The Norwegian government is Equinor’s largest shareholder with 67% of the shares.

Business partners, suppliers and industry associations
We work with our peers and partners through bilateral dialogue and industry associations and partnerships. We share best practices, our positions and promote sustainable business through the value chain. Equinor is a founding partner of the Oil and Gas Climate Initiative and we are members of several collaborative initiatives, such as IPIECA (the global oil and gas industry association for environmental and social issues) where we play an active role. We are transparent about our climate related memberships and engagements, and promote our positions on climate related issues such as a price on carbon and sound methane regulations in a consistent and open manner. More details are available in our CDP response.

Customers and society at large, including non-governmental organisations and academia
We deliver energy to over 170 million people and thousands of jobs to our local communities. We have a long-term perspective on how to improve our business and we depend on an open dialogue and partnerships with the broader society to achieve our business objectives and vision to shape the future of energy. Equinor has been working with the UN Global Compact since its establishment, and we are a founding partner of the extractive Industries Transparency Initiative, where we are represented at board level. We are also a founding partner of the UN Global Compact Action platform for sustainable ocean business. We work with academia and research institutions to find innovative solutions.

Materiality assessment
Material topics are defined as those that have, or may have, a significant impact on our stakeholders and on Equinor. To assess the importance of various sustainability topics to Equinor, we assessed our business strategy, sustainability priorities and business risks.

Our material issues have remained, to a large extent, consistent over the years. In 2018, compared to previous years, stakeholders put more emphasis on the United Nations Sustainable Development Goals. The topics consistently regarded as highly significant across stakeholder groups include climate change and the energy transition, as well as safety and security.

Material topics

Climate change and the energy transition:
Energy transition and business strategy; GHG emissions, New energy solutions; Low-carbon research and development